Blockchain Daily News

Edition 79, 24.10.2017

Fans’ Section

The American stockbroker immortalised in the film The Wolf of Wall Street has warned that the craze for ICOS has become “the biggest scam ever“.

Jordan Belfort said ICOs, are “far worse than anything I was ever doing“.

DNT: This statement sound like an wolf saying, with a smile on his teeth, that it is a vegetarian. And we all know that, sometimes, wolfs can wear sheep’s clothing…So, the BIG question is: can we really trust a “wolf’?

FAO: What’s the value of these words (or any) considering their are coming from this guy’s mouth? Just asking…

Royal Bank of Canada CEO, David McKay, is joining in calls to question the utility and legitimacy of bitcoin.

McKay: “The purpose it [bitcoin] seems to serve today is really to help move money in a hidden way and facilitate, potentially facilitate, criminal activity of moving money in an undetected way.”

“I think some people will call it a fraud. I don’t think it’s fraudulent … But it doesn’t solve a main need in society right now.”

DNT: Yeah, and banks do…right? But they need blockchain. 🙂 I propose to found a club: “Jamie’s friends”…The entrance (member) fee: a bitcoin fraction. Mr. Dimon and his friends can borrow from his daughter.

FAO: Ok, thanks for your thoughts, Mr. McKay. The list of prominent figures in banking is growing by the day. Q for Mr. McKay: if “it doesn’t solve a main need in society right now” WHY ARE YOU TALKING ABOUT IT?

U.K. startups working with distributed ledger technology are having problems accessing traditional banking services, according to a report issued last week by the U.K. Financial Conduct Authority. The FCA did not name the startups involved or the banks that denied them services.

Wamda Capital’s CEO, Fadi Ghandour, has suggested JPMorgan Chase head Jamie Dimon should learn more about Bitcoin and other digital currencies before making negative statements against them. According to Ghandour, Dimon should realize that the cryptocurrencies and Blockchain technology are here to stay.

DNT: I totally agree…

FAO: And he is not the only one…btw did you listen to Jamie speaking on the topic?

Russia is hosting a different kind of battle between crypto and fiat currency, with consumers soon to face Bitcoin and Ethereum vodka. An entrepreneur from the city of Ekaterinburg has delivered three patent applications for Bitcoin, Ethereum and Ethereum Classic to become the brand names of the country’s famous spirit.

DNT: No comment, except: cheers!

FAO: This will surely loosen things up a bit. It certainly deserves a ‘shot”!

Cryptocurrencies

Anyone who owns bitcoin will soon be able to receive a new cryptocurrency. As of block 491,407 on the bitcoin blockchain, another alternative version of the protocol will be launched, resulting in a variant that’s being branded bitcoin gold.

Exchanges & Trading Venues

The opening of the LedgerX platform creates the possibility of large-scale trading among traditional financial institutions.

FAO: Did you hear that, Jamie? Oh, and since everybody is telling Jamie to start reading – here’s a good start. Can somebody send him this story? Earlier this year we mentioned LedgerX’s breakthrough in being licensed for clearing derivatives on cryptocurrencies.

BitPeople

Jeff Garzik, one of a handful of key developers who helped build the underlying software for bitcoin that is known as blockchain, has seen its shortcomings firsthand. So he decided to create a better digital currency.

Latest Developments & Agreements

UK-based Wirex has formed a joint venture with fintech investing powerhouse SBI Holdings to launch a cryptocurrency payments card in Japan.Wirex already offers a Visa-backed cryptocurrency debit card but the new JV, called SBI Wirex Asia, will soon roll out a Yen denominated option. In addition, the partners plan to move into other Asian markets.